European Markets Mixed Despite Strong US Growth Data

European markets outside Spain opened higher on 23 December, and witnessed mixed trade thereafter, even after the US put out positive third-quarter growth data.

The Stoxx Europe 600 index opened 0.1% higher to 321.56.

Britain's FTSE 100 opened 0.3% higher.

France's CAC 40 opened 0.2% higher.

Germany's DAX 30 opened 0.4% higher.

Spain's IBEX 35 was trading 0.23% lower after opening flat.

Italy's FTSE MIB was flat after opening higher.

Data from the US, on 20 December, showed that the world's largest economy expanded faster-than-projected in the third quarter. The American economy expanded at a 4.1% annualised rate in the July-September quarter, up from a previous estimate of 3.6%.

BMO Capital Markets said in a note to clients: "[The] US economy is gaining underlying strength as old headwinds fade and new tailwinds emerge. Q3 GDP growth was revised up much more than expected to 4.1% annualised, marking a decent acceleration from 2.5% in Q2 and 1.1% in Q1."

"The strong Q3 growth performance vindicates the Fed's decision to begin tapering QE3. It also suggests the economy is poised for stronger growth in the new-year than the middling 2.0% pace of the past year, meaning the tapering process will continue."

In company news, UK-based spirits group Diageo's stock was trading 0.72% higher at 09:30GMT in London on 23 December, even after an Indian court ordered the annulment of Diageo's purchase of shares in India's United Spirits.

Italy's Banca Monte dei Paschi's stock was trading 5.01% higher at 09:29GMT despite reports that the bank's top shareholder could be looking to sell its 20% stake in the troubled lender.

In other news, Bank of England Deputy Governor Andrew Bailey said in an interview on 22 December that the central bank was tracking Britain's fast-rising housing market and that the BoE had the tools to cool the market, if needed.

Meanwhile, Germany's largest lender Deutsche Bank said it could be forced to put aside more money for probable future litigation costs, following its $1.9bn settlement with a US regulator.

"The issue of tighter interbank liquidity has been a key focus a few times this year and given the seasonality this should not surprise anyone, but with the lack of major weekend newsflow, perhaps this issue has been given greater attention from markets than it would have done otherwise," Chris Weston, chief market strategist at IG told CNBC.